Your Insurance Questions

Condo insurance (HO-6) typically covers the interior of your unit, while damage to shared walls is often handled by your HOA’s master policy. In Colorado and Utah, it’s crucial to understand exactly where the master policy ends and your responsibility begins—especially with high local risks like hail and water damage.

No, standard condo and townhome policies in Colorado and Utah have low limits for valuable items like jewelry and collectibles. To be fully protected, you should consider a scheduled personal property endorsement for high-value belongings.

If your HOA’s insurance doesn’t fully cover a loss, you may face a special assessment. Loss assessment coverage on your condo or townhome policy can help pay your share, protecting you from out-of-pocket surprises.

Your condo insurance deductible is the amount you’ll pay out of pocket before your insurer covers a claim—for example, $1,000 or $2,500. In Colorado and Utah, picking a higher deductible can lower your monthly premium, but it also means more up-front cost if you need to file a claim or face a special HOA assessment.

Yes, you still need condo or townhome insurance after paying off your mortgage to protect your investment, belongings, and finances. HOA master policies rarely cover your interior or personal liability, so personal coverage remains crucial.

Walls-in coverage protects everything from your unit’s interior walls inward—fixtures, flooring, and improvements—where your HOA’s policy stops. It ensures you have coverage for what you’re responsible for inside your condo or townhome.

Standard condo insurance offers very limited, if any, coverage for home-based businesses in Colorado and Utah. Most business equipment and business-related liability are not included unless you add specialized coverage.

Building code coverage pays for costs to repair or rebuild your condo or townhome to meet current codes, which standard insurance may not cover. This protection can save Colorado and Utah owners thousands in unexpected upgrades after a covered claim.

Standard condo and townhome insurance in Colorado and Utah typically covers damage from fire, wind, hail, and lightning. Floods and earthquakes require separate policies.

If your upstairs neighbor’s pipe bursts, responsibility depends on what caused the leak. Your own condo policy often covers your property, but the neighbor’s or HOA’s insurance may be involved based on the source and fault.

If you’re renting a condo, the owner’s insurance won’t protect your belongings or liability—you need your own renters insurance for full coverage.

Condo insurance in Colorado and Utah includes personal liability coverage for injuries in your home, damage you cause to others' property, and legal defense costs. Coverage limits are flexible—most start at $100,000, but higher limits are recommended for many owners.

Yes, most condo and townhome insurance policies in Colorado and Utah include 'loss of use' coverage, which helps pay for temporary living expenses if your unit is uninhabitable after a covered claim.

Actual cash value pays the depreciated value of your items, while replacement cost covers the full price to buy new items at today’s market value. Replacement cost provides more complete protection but typically comes with a higher premium.

Condo insurance covers special assessments only if they're due to a covered peril, like hail or fire. Routine maintenance or improvement assessments typically aren't covered—loss assessment coverage is key.

Loss assessment coverage helps pay your share of HOA-imposed costs when damage to common areas or liability claims exceed your condo or townhome association’s master policy. It’s crucial protection for Colorado and Utah owners facing special assessments that can reach thousands of dollars.

Condo insurance generally covers water damage from internal sources like burst pipes or appliance leaks, but not flooding. For protection against external floods, separate flood insurance is required.

Start by totaling the value of your belongings and upgrades, then review your HOA’s master policy to spot gaps. Most Colorado and Utah owners need to add loss assessment and water backup coverage for complete protection.

Condo insurance (HO-6) covers your unit’s interior, belongings, and liability, while the HOA master policy typically insures the building’s exterior and shared areas. Knowing where their coverage stops and yours begins is essential for full protection.

Usually, commercial umbrella insurance in Colorado and Utah has no deductible, but you may face a self-insured retention if your primary policy doesn’t respond. Always check your policy terms.